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Finance division outlines banking services and collateral program protecting public deposits
Summary
Finance Director Cora Parker told the General Government Subcommittee the Treasury provides centralized banking and cash-management services for about 80 state agencies, roughly 1,100 local governments and 10 public university entities, and runs a collateralization program that protects more than $3.3 billion in public deposits above FDIC limits.
Cora Parker, director of finance for the Oregon State Treasury, told the General Government Subcommittee on April 2 that the finance division provides centralized banking and cash-management services that enable state agencies, universities and local governments to collect and disburse funds securely and to earn investment returns in the Oregon Short Term Fund.
"Customer accounts are held at treasury and we provide daily and monthly account statements to our customers that reflect all of their transaction activity and their balances," Parker said. She said the division managed about 18.4 million transactions in 2024 that totaled roughly $419 billion.
Parker described the public funds collateralization program that requires qualified banks and credit unions to provide collateral for public…
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